Candidate Nomination information booklet for Elected Officials - Revised May 2023 | BPWCCUL 9 About the Supervisory Committee - Co-operative Societies Act, CAP. 378A (Section 211) 1) Every Credit Union shall have a Supervisory Committee who shall be elected by its members at the Annual General Meeting 2) The members of a Supervisory Committee hold office for such term as the By-laws provide and until their successors are elected 3) The Supervisory Committee shall consist of the number of members fixed by the By-laws, which shall be not fewer than three (3) 4) No person who is a member of the Board of Directors or Credit Committee or who is an officer of the Credit Union shall be a member of the Supervisory Committee 5) No member shall be a member of the Supervisory Committee unless he has attained the age of 18 years 6) A majority of the Supervisory Committee constitutes a quorum 7) A member entitled to vote at an election of members of the Supervisory Committee, if he votes, shall cast a number of votes equal to or less than the number of members of the Supervisory Committee to be elected, and the member shall distribute the votes among the candidates in such manner as he sees fit, but no candidate shall receive more than one (1) vote from each member 8) Where a vacancy occurs in the Supervisory Committee, the Supervisory Committee may fill all vacancies until the next Annual General Meeting of the Credit Union 9) The By-laws of the Credit Union may provide for the election and retirement of members of the Supervisory Committee in rotation, but in that case no member shall be elected for a term of more than three (3) years (Section 213) When a member of the Supervisory Committee fails to attend three (3) consecutive meetings of the Committee without, in the opinion of the Supervisory Committee, having a reasonable cause therefor, or fails to perform any of the duties allotted to him/her as a member of the Committee, his/her position on the Committee may be declared vacant by the remaining members of the Committee who may appoint a qualified person to fill the vacancy until the next Annual General Meeting of the Credit Union Supervisory Committee Guidelines - Financial Services Commission Under Guideline No 4 the Supervisory Committee of each Credit Union must establish and implement a complaints procedure that addresses the following items: 1) The Supervisory Committee shall establish and adhere to procedures for the handling of complaints from members and other customers of the Credit Union about the management of the Credit Union that are designed to encourage the resolution of such complaints 2) The Supervisory Committee may hear and resolve complaints from members or customers of the Credit Union 3) The Supervisory Committee shall maintain a record of written complaints received and the proportion of those complaints the Supervisory Committee believes have been resolved to the reasonable satisfaction of the member or customer By-laws Related to the Supervisory Committee The Supervisory Committee shall consist of three (3) members, none of whom shall be a member of the Board of Directors, the Credit Committee or an employee of the Society (Section 56 (1)) A vacancy on the Committee shall be filled by the remaining members of the Committee who may appoint a qualified member until the next Annual General Meeting at which a member shall be elected to fill the vacancy for the unexpired term (Section 56 (3)) The Supervisory Committee shall choose from its number a Chairman and a Secretary These offices shall not be held by the same person (Section 57) The Supervisory Committee shall meet at least once a month to perform the duties as performed in the Act, Regulations and By-Laws (Section 58 (1))
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